Transatlantic Holdings, an international reinsurer based in New York, has appointed J.P. Morgan Worldwide Securities Services to provide global custody for the majority of its invested assets worldwide, whose estimated value is $11 billion.
Robert Caporale
Transatlantic’s subsidiaries – Transatlantic Reinsurance Co., Trans Re Zurich Reinsurance Co. Ltd. and Putnam Reinsurance Co. – will also be serviced by the J.P. Morgan unit, also located in New York, which aids institutional investors, broker dealers and others optimize efficiency, mitigate risk and enhance revenue, according to the company.
“We are pleased to add Transatlantic Holdings, Inc. as a new client to our North American insurance franchise,” Robert Caporale, head of new business development for the Americas, for J.P. Morgan Worldwide Securities Services, said in a statement. “As such, the mandate is an excellent example of our ability to service the global custody needs of reinsurers.”
James Ready, vice president and treasurer of Transatlantic Reinsurance Co., added “We are pleased with our selection of J.P. Morgan and the level of support and array of services they are able to provide to satisfy our global custody needs.”
N.Y.-based reinsurance firm selects J.P. Morgan as assets custodian via IFAwebnews.com .
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